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<br />Executive Session and Regular City Council- 4/7/03 <br />Page 7 <br /> <br />presented in the staff report dated April 7, 2003, and <br />identified as a proposed workforce reduction plan, and to <br />present that plan to the City Council on Monday, April 14, <br />2003 for further consideration as follows: <br /> <br />1) Early Retirement <br />a) The City would offer incentives for <br />employees nearing retirement, whereby the <br />employee agrees to retire earlier in exchange <br />for three (3) months severance pay, AND <br />twelve (12) months health/dental coverage. <br />b) Employees electing early retirement would <br />receive a payout of their earned vacation and <br />compensatory time in addition to the <br />incentives noted above. <br />c) A window of opportunity would be <br />established, probably thirty (30) days. <br /> <br />2) Voluntary Reduction in Workforce <br />a) The City would offer employees through a <br />severance agreement/contract whereby the <br />employee agrees to voluntarily resign in <br />exchange for three (3) months severance pay, <br />AND twelve (12) months health/dental <br />coverage. <br />b) Employees electing to voluntarily resign <br />would receive a payout of their earned <br />vacation and compensatory time in addition <br />to the incentives noted above. <br />c) A window of opportunity would be <br />established, probably thirty (30) days. <br />d) Management would reserve the right to grant <br />or deny this option under certain <br />circumstances based on whether it would <br />create an immediate hardship for the City to <br />deliver an acceptable level of service. <br /> <br />3) Layoffs (if necessary) <br />a) In the event that an insufficient reduction in <br />workforce is achieved through attrition, early <br />retirement, or voluntary resignation, the City <br />